Mr Marsters won the Emerging Maori Artists - Nga Manu Pirere award.
A descendant of generations of Te Arawa carvers, Mr Marsters' interest in traditional Maori art was instilled at a young age when he learned about his lineage and raranga.
Mr Marsters would sit with his nan and learn about the practical and functional process of weaving.
He knew of his whakapapa link to a carving family (Ngati Pukaki) which inspired him to look at the art of whakairo to expand and satisfy his search for knowledge.
Mr Marsters studied whakairo at the New Zealand Maori Arts and Crafts Institute in Rotorua.
A graduate of the institute's carving school - Pokairua in Whakairo Rakau in 2013, Mr Marsters also won Iti Waewae - Emerging Maori Artist award in 2014.
The Nga Manu Pirere Grant will aid Mr Marsters' research of potae taua (traditional Maori head-dress).
The focus for his Bachelor in Maori Art is to explore the different construction methods and varying types of potae which will be created primarily using watu and taniko methods.
Through researching Kaupapa Rangahau, he will build a stronger understanding about how potae were made and why.
Now rarely seen, potae play a crucial part in the history of Te Arawa when fine ornate head-dresses reminiscent of potae taua were worn by Te Arawa chiefs to honour special visitors and celebrate important occasions.
"I take inspiration from our tupuna and everything I do is an acknowledgement to them."
Taupo kaumatua Te Kanawa Pitiroi won one of four awards for the Lifetime of Service to Maori Arts - Nga Tohu a Ta Kingi Ihaka.
A tribal speaker and representative for Paramount Chief, Sir Tumu Te Heuheu, Mr Pitiroi has extensive experience in Maori, iwi, and community education initiatives and is a respected elder of the Ngati Tuwharetoa people of the Central Plateau.
As a teacher at Te Kura o Hirangi in Turangi and Pou Tikanga for the Tuwharetoa Maori Trust Board, Mr Pitiroi also sits as a member of the repatriations committee for Te Papa Tongarewa, the Museum of New Zealand.
This committee works with various organisations nationally and internationally to return taonga to their rightful place.
Mr Pitiroi's role includes protecting the mana of artefacts for both Ngati Tuwharetoa and the many other iwi.
He helped establish the Lake Taupo Charitable Trust in 1997, which administers charitable community funds for the benefit of Lake Taupo Forest Trust beneficiaries.
The benefits are provided for the promotion of health, social, cultural, and economic welfare and for education, culture and sports.
The other award recipients were:
Hoturoa Barclay-Kerr
Mana Elizabeth (Liz) Hunkin
Keri Kaa CNZM
Professor Piri Sciascia ONZM
Hokimoana Te Rika Hekerangi
Te Kanawa Ngarotata BMVA